Buying or Selling A FSBO Home - Contracts

Contracts are created to focus on the legally binding aspects of the real estate transaction. The good news is contracts come pre-printed for easy use in FSBO transactions.

When we talk about a contract for the sale of a property, we are talking about a buyer and seller getting to the heart of the matter. A contract is a binding agreement where each party agrees to provide consideration for the other party doing something. In the case of the buyer, he or she agrees to pay money on a specified date in exchange for the title to the property in question. As you might guess, the consideration of the seller is the transfer of title upon receipt of said funds. This is how contracts work in FSBO transactions when boiled down to their basic function.

As you might imagine, these contracts also cover more than the basic funds and title transfer. The contract should include representations from the seller that they are transferring “good title” to the property, to wit, they actually own the property and no outstanding debts are recorded against it such as lawsuits. Other conditions that can arise include things such the transaction being conditioned upon the buyer obtaining financing, the completion of a home inspection, certain assets being left with the property such as furniture and the deposit of an earnest money deposit by the buyer to show he or she is serious. The beauty of a contract is that it is a negotiable document, to wit, you and the other party can put in writing practically any reasonable terms you agree on.

As you know, owning a home is part of the American Dream. One characteristic of this dream is the fact that people have been buying and selling property for hundreds of years. Given this history, it is not particularly surprising that contracts for property have evolved into pre-printed forms. In fact, these are the very forms being used by realtors!

In most situations, you can go ahead and use pre-printed contracts without any problem. If there is something out of the norm with what you are buying or selling, however, you may want to use a lawyer to handle the transaction. Obviously, that is going to cost a bit more!

Raynor James is with the site - FSBO America - FSBO homes for sale by owner.

FSBO Sellers - Real Estate Signage

Real estate signage is part and parcel of the FSBO sales process. That being said, you have to know how to use them to get the biggest bang for your buck.

When it comes to selling real estate, it is important to understand that the number one thing that leads to a sale is not snappy advertisements, professional help and so on. The primary thing that sells a home is the property itself. A sale occurs when a buyer sees your property on the Internet or drives up and falls in love with the property. Given this fact, your goal in using signage is solely to get the buyer to your property so he or she can fall in love and offer you an obscene amount of money!

When using signage, it is pretty hard to go overboard. In most areas, you want to put up between 15 and 20 signs. One should be placed on the corner of each entrance street to your neighborhood. You should also place one at each end of your block and any intervening blocks where a person must turn to reach you. The goal is to grab their attention and then lead them to your property. Try to make it as easy for them as possible.

On each one, you should list the property address and your phone number first. Make sure to use very dark, thick ink so it stands out. Next, include the basic information on the property. This should include the number of bedrooms and bathrooms. Putting the price is also a good idea, though some people prefer not to. Add nothing else to it. You do not want to clutter it up to the point where people have to get out of their car to read it. Most simply will not do so!

Some people are a bit hesitant when it comes to sticking up signage everywhere. Yes, it can be a bit tacky, but it works. When selling a home, the goal is to get the potential buyer to your house know matter how. Creating a trail of signage crumbs will do the trick.


Raynor James is with the site - FSBO America - FSBO homes for sale by owner

Profiting from Selling Your Real Estate - Inexpensive Improvements that Pay Off

Selling your home is always stressful, especially when you realize that you may have to invest some money in your house to get the most out of selling it. Real estate specialists will tell you, however, that you can often improve your profits with some simple, inexpensive steps that are relatively low cost. Neatness is one of the most important things prospective buyers notice when looking at property, so be sure everything is tidy, from the yard to the garage. This means keeping weeds pulled, the lawn mowed and toys tucked out of site. Your garage should also be thoroughly cleaned, with tools stored properly and dirt swept away.

If you don't usually have a green thumb, invest in some new outdoor plants that you can put around the entrance to give an inviting feel. If you don't have a garden area, put out potted flowering plants to add a touch of color. The first impression is a lasting one, so put a fresh coat of paint or stain on the front door and hang a seasonal wreath or add an attractive door knocker. Be sure you've had the house's trim painted recently (or do it yourself) and clean out all gutters and downspouts.

Indoor repairs are also very important - especially ones that may not be urgent, but would strike potential buyers as annoyances they don't want to take care of as soon as they move in. Dripping faucets, creaking door hinges and chipped trim are all features that will jump out if you don't take care of them, and none of them will cost more than a few hours and a few dollars to repair. A real estate sale is often lost or won on such details.

Cosmetic changes that can really improve the value of your home for relatively small cash are always a good idea. One of the best returns on your money comes from painting. Sure, some buyers may repaint when they move in anyway, but fresh, clean walls in light neutral colors brighten the rooms and make the whole house seem fresher and cleaner. Adding crown molding to key rooms such as the living room and dining room also adds real personality and richness to a room for very little cost. Simply purchase pre-cut molding and nail-gun into place, then paint in a contrasting shade from the walls (matching it to the window trim) to make the room really stand out.

Consider switching out fixtures in the kitchen and bathroom if yours are dated or pitted with age. You can find great looking, stylish fixtures in a variety of finishes on sale at large home improvement stores throughout the year. The right fixtures can change the whole look of a bathroom or kitchen.

If you have carpeting, have it cleaned by a professional or, if it's in really bad shape consider replacing it. Although this is a bit pricey, you can find excellent deals on remnants for smaller rooms with a bit of shopping around. Hardwood and tile floors should be thoroughly cleaned and buffed or polished so that they shine. Scuffs and a dulled finish hint that you haven't taken proper care, and may put buyers off.

A lot of people forget about cleaning their windows before showing their house. It may be a chore to do, but it's worth the time and effort - sparkling glass makes even older windows seem newer, and makes the house seem clean and bright. The same goes for cleaning light fixtures thoroughly - take them down and polish all of the pieces and make sure that you replace any burnt-out bulbs. Other areas to clean that can be easily overlooked include the air returns and any vents for heating or air conditioning, which should be vacuumed thoroughly. Home buyers will want to take a look at the furnace, hot water heater and air conditioning unit. Take a look at yours - are they covered in dirt and surrounded by clutter? If they are, clear the area and clean everything completely so that the impression is one of clean, efficient appliances.

Finally, when you are ready to show your home, set the stage. Put out fresh flowers in the family room, place a bowl of fresh fruit on the kitchen table and make sure all of the rooms are brightly lit. A house that looks appealing and comfortable to potential buyers will sell much quicker than real estate that looks sterile and empty - make it look like a home, not a hotel room. If you keep these simple steps in mind, you'll soon sell your real estate for top dollar.


For more real estate selling information, visit http://www.1st-real-estate.com

Selling your Home, A Last Look Back

You’ve finally sold your home and the paperwork has been completed. You have received the full purchase price from the buyer. The new owner has asked you when they can move in, and you grudgingly give him a date. He agrees and shakes your hand. You feel a lump on your throat as you close the door and take one last look at your home. You don’t want to leave but in a few weeks, a new family will be living in this property.

What should you do when it’s time to move out of your home? The first thing you should do is to get organized. Go through the entire house and take note of the items which you can bring and which should be left behind (i.e. chattel included in the sale). Next, comes the hard part … packing and sorting. Start with the large and bulky items. If possible cover these with bubble wrap or swags of fabric to protect the surfaces from unnecessary bumps and scratches. Then start focusing on the smaller items: from books to throw pillows, accessories and décor. It would be best if you could crate or box these items according to room. Have a box dedicated primarily for all the china (make sure you wrap each piece in paper, else you might end up with broken dinnerware), another box for all the gardening equipment, another box for your books, and so on and so forth. Make sure that you label each box properly.

Once all of the bulky pieces, the fragile boxes, and your personal packs have been hauled by the movers, you should walk through the entire house one last time. Not to tearfully say goodbye, but to check if you are leaving the property in order. Make sure that all the light bulbs are working, all the toilets are clean (and flushed), the windows are washed, and the floor vacuumed (or at least, free of dirt and debris). When you’re fully satisfied with the condition of the house (it’s no longer your home, remember), you can now hand the keys over to its new owner. If you wish, you can present the new owner with a small token, a housewarming gift - a small gesture to make him feel welcome in his new home.

Cutting Down on Expenses

Many people think that once you sell a house, you’ll suddenly get a great windfall of money. Although technically this may be true, many overlook the fact that home sellers invest quite a hefty sum prior to the sale. Remember that, in order to command a good selling price, the house must be in tip-top condition thus home owners reinvest in their homes just prior to selling by paying for repairs and minor remodelling projects. In addition to this, home owners need to spend for advertising and promotions. Even if the owner opts to do without the services of real estate agents, he still would need to make brochures, flyers, posters and, if he advertises in a newspaper, pay for advertising cost. Apart from this, the owner will have to pay for taxes.

If you’re a home owner and want to reduce the pre-selling expense that will come with selling a house, there are quite a number of ways to do this. Since a big bulk of pre-selling expense goes to repairs, you should keep this to a minimum. You don’t need to spend thousands of dollars to totally remodel parts of your house. Sometimes, a fresh coat of paint and a few carefully chosen accessories will do the trick. At the time of pre-selling inspection, you will thank yourself profusely if you had, over the years, taken the time to maintain the condition of your house.

Another way you can reduce unnecessary expenditure is to delay going to real estate agents or lawyers until the very last minute. Some home owners run to these professionals at every instant. Although some professionals give advice for free, most will charge you a fee. It would be to your advantage if you did all the preliminary paperwork and just approached these professionals just before you finalize the documents. If you’re at a loss on how to prepare contracts, there are various websites that offer users vital real estate information. Usually these sites have a database of standard forms which can be downloaded individually or by bulk. You can use these downloaded forms as a basis or a draft and once you’re fairly satisfied with the contents, you can bring these to your lawyer for a once over.

Through the availability of such forms, costs allocated for professional fees are reduced. The savings may not be much, but it still is a few hundred dollars that you can put in the bank.

Wanna Share A Room?

In some parts of the world, renting a house or an apartment; and then subsequently having the rooms rented out to other individuals, is a common occurrence. This practice, which goes by the terms subletting or flatting, is a form of living arrangement that is popular among young adults. Not only do they have a semblance of privacy and independence, since the maintenance and utility costs are shared, it also becomes quite economical for those involved.

If you plan to sublet the house you’re renting or plan to be a tenant of a tenant, make sure that the owner of the house is aware of this planned living arrangement. Check the contract or lease agreement and make sure that there are no specific clauses prohibiting you (or the main tenant) from conducting subletting procedures. Once you have verified that subletting is allowed, you are then free to either move in (if you’re the lessee) or look for flatmates.

If you will be the landlord, it would be wise to draft a contract between yourself and your lessee. In your contract, make sure that all the stipulations and conditions indicated in your agreement with the main landlord, most especially those that involve what are or are not allowed in the premises, remain the same. Remember that in case your tenant does serious damage to the property, you will be responsible for it. So don’t take any chances.

If you will be the tenant, it is still advisable to sign a contract with your “landlord”. Have a copy of this document on file so you can easily revert to it in case disputes or problems arise.

If both of you will abide by the agreed upon rules and regulations and get along well even on a personal level, then sharing a room, or a house would not be a problem. Not only is it financially viable, it is also a great way for you to meet and make good friends.

Residential Units Specified

The word residence can be used to describe all sorts of properties used for living. In prehistoric times, one’s residence could be a cave, a tree house, or a simple post and lintel structure. Today, not much has changed. Different structures can still be considered as residential units. Generally, residential units can be divided into two categories, namely: Apartments and Houses.

The most common residential unit is the house. This structure is normally detached (not attached to anything) and is traditionally built for only one family. However, there are houses that are specifically built to accommodate two families. These are called duplexes. In duplexes, the features found on one half of the house are mirrored on the other half, thus giving each occupant the same amenities.

Since houses normally cost quite a hefty some, those who cannot afford to purchase one yet, opt to live in the next best residential type: the apartments. Apartments are multi-storey edifices that can house several families. Apartments are further subdivided into several categories, those that are built for mass housing (tenements) and those that are more upscale (condominiums, etc). Apart from the socio-economic determinants, apartments can also be classified according to the number of rooms each unit has. There are single room units called studios, and larger multi-room (and possibly, even multi-storey) units.

Each type of dwelling has its own pros and cons – it’s up to you to evaluate and weigh these based on your needs and the needs of your family. So if you are out looking for your new home, make your selection based on your needs. If you will be living alone, it may be more economical if you just stayed in a studio apartment. If it’s just you and your partner, a one-room apartment or a one-bedroom house (2-bedroom if you want extra space) may do the trick. If you have a large family, it will be better if you sourced around for a single detached house with enough rooms to accommodate your family. The kind of dwelling hardly ever matters. Remember that the structure does not make a house a home; it’s the people that live in it that make the difference.

To Download or Not To Download

If you’re involved in real estate, you know that this business involves a lot of paperwork. Since the transactions involve properties and big amounts of money, each move the buyer or seller makes should be properly documented and filed. If you secured the services of a real estate agent, they would gladly prepare all the necessary paperwork and filing for you and probably just hand over your copies at the end of each transaction. If you are doing your real estate transaction on your own (selling a house, or getting a tenant), then you should be ready to handle everything.

One of the major problems you would face would be securing or preparing the needed contracts and forms. A real estate agent would have all these papers at their disposal, but you would have to source out for these on your own. Not to worry though, the information you require can easily be obtained from the internet.

Various real estate related websites have been established to help anyone conduct real estate related transactions without the assistance of agents. Apart from real estate information and tips to sell properties, these sites contain a full listing of the standard forms needed to formalize any agreement made. You are given the option to purchase forms on a per piece basis or by bulk, and these forms will either be sent to you by mail or be available for download.

Many people are apprehensive about downloading forms from the internet. They feel that the standards of legal offices will not be met. On the contrary, these forms conform to local, regional or even state requirements. Despite being generic, these forms (which can be opened using any word processing program) can easily be modified to include any detail that you would wish to include. To verify the accuracy and completeness of the contents, you can consult with a lawyer or a bona fide agent.

If you still feel wary about using downloaded forms, but do not want to work with real estate agents, you are free to request forms from your local government or private real estate offices. They should be able to provide you with a complete set.

Why You Must Have A Residential Lease Agreement

Renting a home; whether the unit is a single detached house, a two-storey apartment, a modest condominium or a swanky penthouse suite, is not as easy as everyone perceives it to be. It involves more than having money change hands every week or month, depending on what payment terms have been agreed upon by both parties. Renting a home is about working together. It’s about understanding the requirements of one another, and adapting to the codes of conduct specified by each.

In some instances, especially if the landlord and tenants have known each other for long periods of time, a gentleman’s agreement (a verbal contract) would normally suffice. However, sometimes, even the best of friends have falling outs due to money matters so, to prevent this from happening; and to clearly spell out the duties and responsibilities of each; it is still best that a formal contract be written and that these be signed by all the parties involved.

Formal contracts for properties that are rented out as private dwellings are called residential lease agreements. Not only do these specify how much the unit will be rented out, all the other terms and conditions: from the rules and regulations that shall govern the new tenant, to the responsibilities that shall be borne by the landlord, and the appropriate “penalty clauses” are to be specified in writing on this document.

Generally, there are two kinds of lease agreements, and these are based on the duration of one’s stay in the residential unit. For short-term and/or indefinite leases, the contract both parties normally use is called a month-to-month rental agreement. Long term leases, or those wherein the tenant will stay in a property for years at a time, are covered by a more comprehensive contract called a Lease Agreement.

These two contracts, the Lease Agreement and the Month-to-Month Rental Agreement, are both considered legal documents and will stand in any court of law. Thus said, it is very important that the contents of these documents are well written and easily understood, most especially by the parties involved.

In previous years, residential lease agreements could only be prepared by real estate agents or lawyers. Not only was this process time consuming, it was also an additional cost that usually had to be factored into the rental rates. Luckily, tenants and landlords no longer have to go through this tedious process as they are now able to prepare residential lease agreements by themselves by downloading an editable version from one of many real estate related websites found on the internet.

Many are apprehensive about using downloadable forms because they fear that the content and format may not necessarily conform to the standards set by local or state government offices. However, the developers of such sites have invested much time and energy to ensure that these documents, although considered somewhat generic, meet the requirements of any official business or government entity. Because these forms can be opened using any standard word processing program, the contents can easily be modified to suit the specific needs of the users.

Land Contract Forms Are Back In Style!

Not many people are able to purchase properties, most especially real estate, in cash. Due to the volatile state of today’s economy, even those who live in relatively economically progressive societies find it hard to either let go of a large chunk of hard earned cash or secure a large amount of money. As such, most real estate transactions are not completed in one sitting, but over an extended period of time.

Those who have already established a solid credit standing in banks and other financing institutions will not find it hard to get a mortgage. However, quite a number of potential home owners, particularly young couples or young buyers, are not eligible to take out substantial loans from banks because they have yet to firmly establish their own credit ratings. This, however, does not mean that they have to miss out on having their own property. These buyers can still secure land of their own, but instead of getting a mortgage, they can consider getting their property by way of a Land Contract.

A land contract, also known as a Contract for Deed or an Installment Contract, is prepared when the seller or owner of a piece of real estate property allows a potential buyer to remit payment for the property over a specified period of time. This arrangement can be likened to what is commonly known as a bank mortgage, the only difference is that unlike properties purchased through mortgages, the legal responsibilities involved in owning a piece of property (taxes, etc) is retained by the seller, at least until the title is transferred to the new owner.

Like most contracts, the Land Contract should contain rudimentary information: such as the names and addresses of the parties involved, the description, address and price of the property being sold as well as the purchase price and the agreed upon payment terms. The contract would not be considered legal if this did not hold the signatures of the both the buyer and the seller.

Real Estate Agents and lawyers, traditionally, were the only people capable of preparing Land Contracts between buyers and sellers; however, much of this has changed today. Nowadays, anyone can easily prepare Land Contracts as standard sets are readily available from various sources, including the internet.
Many are quite wary of information from the internet, as they can not be assured of the quality of the data they will be receiving. However, sources of downloadable forms, especially those that will be used for legal purposes, need to safeguard their credibility, thus the developers of such websites take great pains in ensuring that the information they are sending out are not only correct, but up to date as well. Users are assured that even with the addition of personal modifications in the standard format; the forms are still valid and will be recognized and honoured by any court of law.

For those who would want to be sure of the validity of the document they are preparing, the downloadable forms or contracts may be used as draft copies and these can be presented to lawyers or real estate agents for their verification and approval.

For Sale By Owner and MLS Listings

There is a common misconception among people who decide to sell their home without a real estate agent. The misconception deals with getting their home in MLS listings.

For Sale By Owner and MLS Listings

Making the decision to sell your property without a real estate agent makes sense from a financial perspective. The commission rate charged by a real estate agent is traditionally six percent. This equates to a fee of $18,000 on a $300,000 home, $24,000 on a $400,000 home and a whopping $30,000 on a $500,000 home. Anyway you cut it, that is a lot of your hard earned equity to pay out. In fact, it may have taken you three, five or ten years of monthly mortgage payments and appreciation to build up that amount of equity.

Given the above figures, why do people use real estate agents? In many cases, they do so because they think using a real estate agent is the only way to get into the multiple listing service for their area. The multiple listing service, better known as MLS, is a directory of homes for sale in the area that real estate agents and buyers can access. What most people selling their own property do not understand is that they can be listed in the MLS without retaining a real estate agent.

In many areas, access to the MLS has been opened up to for sale by owner individuals. You can contact discount brokers that will list your home in the service. The brokers typically charge you a flat fee for the listing. The fees can be a bit pricey, but they are always much, much less than paying a realtor commission. If you feel like you need some additional help as well, most discount brokers offer tiers of service where you can pay a bit more to get help with closings, contracts and so on. Again, the ultimate fee is much less than paying a realtor commission.

While inclusion in MLS is probably a wise decision, it is not absolutely necessary. One of the reasons MLS listings are now easy to get has to do with the Internet. Simply put, the web has revolutionized the real estate industry. A recent study found that over seventy percent of buyers now do their initial research on the web. This makes sense given the fact it is lot less time consuming to simply point and click through a large number of homes without having to blow money on gas driving all over town. In simple terms, this means you need an Internet advertisement for your property more than you need a straight MLS advertisement.

If you are trying to decide whether to sell your property without an agent, do not worry about MLS listings.

Raynor James is with the site - FSBO America - FSBO homes for sale by owner.

Sneaky Ways to Determine if It's a Sellers Market For Sale By Owner Homes

According to recent statistics, the number of people who are now offering their home for sale by owner (FSBO) is as high as 25-30 percent. The average Real Estate Broker's commission is around 5.5 percent, but it can get as high as 8 percent in certain areas.

Before you decide to do all of the work yourself and put your house up as a For Sale By Owner, you might want to try a few tactics to determine if it is a buyers or sellers market.

In a Buyers market, real estate sales slow down. This can happen within just a few months and when it does, even if your neighbor's house sold for a huge profit it doesn't mean your home will be able to do the same now. In this case, you might want to reconsider selling as a For Sale By Owner, because it will take you much longer to get a decent price by yourself.

What you're wishing for is a Seller's market, where most people are getting more than the asking price and inventories of houses are low. There are a few easy ways to determine what the market is doing that won't cost you anything but a little time.

Start by just being aware of how long houses in your neighborhood are on the market before they sell. Then find out if the house did indeed sell, or if it was pulled off the market because the owners couldn't get a decent price.

A great way to analyze the number of buyers looking for houses in your area is to drive around your neighborhood, find a few places where the realtor is having an open house, and see how long it will be open. Then, arrive at the house about ten minutes before the "open house" closes on any particular day. Introduce yourself, have a cookie or two, quickly walk through the house and chat with the realtor. You might even be so bold as to ask him or her if they have been very busy today. Then, before you leave, be sure to glance at the sign-in sheet and note the number of visitors that viewed the house. If there are only a few names on the list, you might want to reconsider selling as a FSBO house. If there are a lot of names, you may be in the money!

Another way is to find out how fast other houses have sold. If you did your homework and drove through the neighborhood, you will have a general idea. If you have a friend who is a realtor, try checking the local Multiple Listing Service (MLS) for data about the average number days a home for sale was on the market, and average days to close. Unfortunately, only a realtor can access the MLS data, so this would probably be your last choice for research.

If the average to number of days to close is around 45 days, you can assume it's a hot sellers market. If the average is six months or more, it is a buyers market and you might want to reconsider selling your house as a FSBO, or take it off the market and wait until you have a better chance for a quick sale.
Evelyn Grazini delivers For Sale By Owner (FSBO) advice to help you sell your home fast! - Find free articles and a free report on "What to Repair and What to Remodel to Obtain TOP DOLLAR when you sell! http://www.fsbotactics.com/asale.htm

What Everybody Ought to Know-Five Smart Ways to Advertise Your for Sale By Owner (FSBO) Home

Most people over-stress when trying to determine how to advertise a "for sale by owner" home. But it's really not that hard if you concentrate on these five methods.

According to the National Association of Realtors, the primary sources prospective buyers use to find houses are as follows:

1) Agent: 86%;
2) Yard sign: 69%;
3) Internet: 65%;
4) Newspaper: 49%;
5) Home book/magazine: 35%;
6) Open house: 48%;
7) Builders: 37%;
8) Television: 22%;
9) Relocation company: 14%

As you can see, numbers 1,7,8, and 9 would not apply to your home for sale by owner, so lets concentration on the others.

Yard Sign - To capture people driving around looking for a house in a particular area, you are going to need a yard sign. Your sign should be approximately 18x24 or 24x30 inches, and easily seen from the road. The sign should NOT be a red and white plastic sign. It should look professional. You can find professionally made signs on FSBO sites, or you can make your own by going to the hardware store and getting a larger size steel frame, and using vinyl lettering or numbering.

Internet/Newspapers: If you have no idea where to start creating your newspaper ad, the easiest way is to find an ad that you particularly like and cut it out of the current newspaper. Find homes similar to yours, then you can easily mix and match phrases and approaches to create your own successful ad. Make sure you include a picture and a description that will entice the reader to call for more information.

You can save money by advertising only on the major Real Estate Ad days (usually weekends). Most newspapers will put your ad on the Internet for free when you place the ad. There are also Internet sites that will place a special ad for you with extra space for a picture, and full description.

Home book/magazine - Real estate magazines are a great place to advertise because they are placed in high traffic areas and picked up by people interested in buying properties. These ads usually cost the same as a classified ad in a newspaper, so if your funds are low, you may have to choose between the two of them.

Open House - The smartest time to hold an open house is when a Real Estate Agent is holding one in your neighborhood at the same time. Then, you can put up your sign at the end of the street and capture some of that traffic. Be sure to have plenty of signs available, and advertise in local newspapers, real estate magazines, flyers, etc. Also, have plenty of flyers in your information box. The "nosy" neighbors will take a few, but you want to have enough available for those who are doing comparison-shopping when they get home.

MLS - If you're doing everything you can and still not finding people interested in your house, consider working with a low cost Real Estate Broker, a Discount Broker, or a Medium Service Broker, (who may be Internet based). Through these resources, you may be able to place an ad in a Multiple Listing Service. Be sure to include a photo of the house. Text only descriptions just will not do.
Evelyn Grazini delivers For Sale By Owner (FSBO) advice to help you sell your home fast! - Find free articles and a free report on "What to Repair and What to Remodel to Obtain TOP DOLLAR when you sell! http://www.fsbotactics.com/asale.htm

For Sale By Owners (FSBO) - Home Buying & Selling Tips

Traditionally, home buyers and sellers have hired the services of a real estate agent or a brokerage firm, a trend that continues to be popular. Yet the concept of FSBO (For Sale By Owner), where the sales transaction is directly between the home owner and a prospective buyer, is becoming increasingly popular.

The growing popularity of FSBO can be attributed to the growth of the Internet and the opportunities that it offers both home owners as well as home sellers to find one another more easily.

Of course, selling through a brokerage firm or a realtor makes sense if the idea is to make a quick deal. On the flip side, that comes with the price of a heavy commission. Obviously, one has to pay for the expertise of the realtor. Unfortunately, another downside is the susceptibility to malpractices during the process, particularly, behind-the-back negotiations.

On the other hand, if immediacy of a sale or purchase of a home is not the most important criteria and the objective is to reduce costs and save money, then the best option is to go for FSBO.

Tips for FSBO Sellers
Selling a house yourself is not a joke by any means. However, there are some very basic factors that an owner can take care of, some of which are listed below.

Pricing
As a seller, it is important that you price your house correctly ie. the price should be neither too high nor to low. Research and survey the real estate prices in the market. A lot of the information is publicly available; and don’t forget the time tested method of fishing for information by asking around. A strategy that home sellers often adopt is to set much higher prices initially and then lower it during negotiations. It might come off occasionally but more often than not, it is bound to put off a prospective home buyer who might think the property is overvalued.

FSBO Services & MLS websites
FSBO has become such a mainstream method for home owners that there is a full-fledged industry to support it. The website SellItYourselfUSA.com (http://www.sellityourselfUSA.com ) is a case in point. The objective of these FSBO services is to help these owners and buyers complete the process in a smooth fashion and cost-effectively. Make the most of the information provided by the FSBO websites and service providers.

Marketing the home
Undoubtedly, marketing continues to be one of the biggest challenges for a seller, but it has been made ever so simpler by the Internet. The sale-purchase scenario of property has undergone a drastic change. Advertising or listing on the niche FSBO and MLS websites gives enormous exposure to the property that an owner is trying to sell. In fact, the choice of how much exposure a person wants is really dependent on the seller with the various targeting options that are available these days.

FSBO tips for buyers
Some simple points that home buyers are well advised to consider when they plan to buy directly from the property owner:

When to buy
Typically, the best time to buy homes is during Fall and Winter when the best bargain property deals seem to be available. This is the time when FSBO sellers generally lower their prices to get potential buyers. Conversely, home prices tend to get higher during the warm weather seasons. As a home buyer it will be good to take these into consideration.

Mortgage pre-approval
In order to avoid problems later, it is important that you have a mortgage pre-approval before making an offer. This is because the seller can be entertaining multiple bids and in such a scenario, you might need to make an offer quickly. In addition, you should arrange the amount required for the down payment.

Insurance-claims report
While buying property, secure the seller’s permission to buy the Comprehensive Loss Undertaking Exchange or C.L.U.E. as it is commonly known. The report has the insurance-claims information and related data and is available online from a company called Choice Trust.

Jonathan Gropper is President of Vortech Web & Business Solutions, a company that designed and markets SellitYourselfUsa.com (http://www.sellityourselfusa.com), a niche website for FSBO sellers to provide maximum exposure to the property they are trying to sell. He is also the COO of OnlyOpenHouses.com (http://www.onlyopenhouses.com ), a comprehensive source for listing and finding open houses.

Tips To Sell Your House Fast

Here are some tips that will help the house being sold fast:

Interior Touch-up:

The most often used areas of the house can always have another coat of paint. Another coat of paint helps in adding brightness and making the room more livable and more comfortable to spend time in. Similarly, floors and bathroom tiles should also be washed and carpets washed and shampooed.

Sprucing the Surroundings:

The first impression has always been the most last impression, in all scenarios. Various deals have been broken because of the ambiance and surroundings not being up to date with the times. A cut and trimmed garden, a fresh coat of paint and a proper scrubbing of the house goes a long way in a house deal.

Benefit to the Buyer:

A inspected home translates into a easier deal for the buyer as well as the seller. The buyer has the option to strike off the cost of a home inspection on their cost, if the seller has already done it.

A home inspection also takes off various suspicions from the mind of the buyer.

Sell The House To Yourself:

Home inspection is inevitable. Therefore, it helps if the sellers do it themselves. This gives a critical evaluation of the real estate that they own. It also helps the seller to realistically price their property and real estate.

Also, small show- stopping and deal-ruining repairs can be carried out even before real buyers step into the house. The seller would also know the various defects in the house which can be rectified. A home inspection also helps in adding professional documentation to the disclosure statement.

Sell My House Fast provides detailed information on Home Selling Advice, Home Selling Prices, Home Selling Process, How To Sell Your House Fast and more. Sell My House Fast is affiliated with Land for Sale by Owner.

Land Contract Forms Are Back In Style!

Not many people are able to purchase properties, most especially real estate, in cash. Due to the volatile state of today’s economy, even those who live in relatively economically progressive societies find it hard to either let go of a large chunk of hard earned cash or secure a large amount of money. As such, most real estate transactions are not completed in one sitting, but over an extended period of time.

Those who have already established a solid credit standing in banks and other financing institutions will not find it hard to get a mortgage. However, quite a number of potential home owners, particularly young couples or young buyers, are not eligible to take out substantial loans from banks because they have yet to firmly establish their own credit ratings. This, however, does not mean that they have to miss out on having their own property. These buyers can still secure land of their own, but instead of getting a mortgage, they can consider getting their property by way of a Land Contract.

A land contract, also known as a Contract for Deed or an Installment Contract, is prepared when the seller or owner of a piece of real estate property allows a potential buyer to remit payment for the property over a specified period of time. This arrangement can be likened to what is commonly known as a bank mortgage, the only difference is that unlike properties purchased through mortgages, the legal responsibilities involved in owning a piece of property (taxes, etc) is retained by the seller, at least until the title is transferred to the new owner.

Like most contracts, the Land Contract should contain rudimentary information: such as the names and addresses of the parties involved, the description, address and price of the property being sold as well as the purchase price and the agreed upon payment terms. The contract would not be considered legal if this did not hold the signatures of the both the buyer and the seller.
Real Estate Agents and lawyers, traditionally, were the only people capable of preparing Land Contracts between buyers and sellers; however, much of this has changed today. Nowadays, anyone can easily prepare Land Contracts as standard sets are readily available from various sources, including the internet.

Many are quite wary of information from the internet, as they can not be assured of the quality of the data they will be receiving. However, sources of downloadable forms, especially those that will be used for legal purposes, need to safeguard their credibility, thus the developers of such websites take great pains in ensuring that the information they are sending out are not only correct, but up to date as well. Users are assured that even with the addition of personal modifications in the standard format; the forms are still valid and will be recognized and honoured by any court of law.

For those who would want to be sure of the validity of the document they are preparing, the downloadable forms or contracts may be used as draft copies and these can be presented to lawyers or real estate agents for their verification and approval.
Land Contract Form

Why You Must Have A Residential Lease Agreement

Renting a home; whether the unit is a single detached house, a two-storey apartment, a modest condominium or a swanky penthouse suite, is not as easy as everyone perceives it to be. It involves more than having money change hands every week or month, depending on what payment terms have been agreed upon by both parties. Renting a home is about working together. It’s about understanding the requirements of one another, and adapting to the codes of conduct specified by each.

In some instances, especially if the landlord and tenants have known each other for long periods of time, a gentleman’s agreement (a verbal contract) would normally suffice. However, sometimes, even the best of friends have falling outs due to money matters so, to prevent this from happening; and to clearly spell out the duties and responsibilities of each; it is still best that a formal contract be written and that these be signed by all the parties involved.

Formal contracts for properties that are rented out as private dwellings are called residential lease agreements. Not only do these specify how much the unit will be rented out, all the other terms and conditions: from the rules and regulations that shall govern the new tenant, to the responsibilities that shall be borne by the landlord, and the appropriate “penalty clauses” are to be specified in writing on this document.

Generally, there are two kinds of lease agreements, and these are based on the duration of one’s stay in the residential unit. For short-term and/or indefinite leases, the contract both parties normally use is called a month-to-month rental agreement. Long term leases, or those wherein the tenant will stay in a property for years at a time, are covered by a more comprehensive contract called a Lease Agreement.

These two contracts, the Lease Agreement and the Month-to-Month Rental Agreement, are both considered legal documents and will stand in any court of law. Thus said, it is very important that the contents of these documents are well written and easily understood, most especially by the parties involved.

In previous years, residential lease agreements could only be prepared by real estate agents or lawyers. Not only was this process time consuming, it was also an additional cost that usually had to be factored into the rental rates. Luckily, tenants and landlords no longer have to go through this tedious process as they are now able to prepare residential lease agreements by themselves by downloading an editable version from one of many real estate related websites found on the internet.

Many are apprehensive about using downloadable forms because they fear that the content and format may not necessarily conform to the standards set by local or state government offices. However, the developers of such sites have invested much time and energy to ensure that these documents, although considered somewhat generic, meet the requirements of any official business or government entity. Because these forms can be opened using any standard word processing program, the contents can easily be modified to suit the specific needs of the users.
Residential Lease Agreement

Why You Must Have A Residential Lease Agreement

Renting a home; whether the unit is a single detached house, a two-storey apartment, a modest condominium or a swanky penthouse suite, is not as easy as everyone perceives it to be. It involves more than having money change hands every week or month, depending on what payment terms have been agreed upon by both parties. Renting a home is about working together. It’s about understanding the requirements of one another, and adapting to the codes of conduct specified by each.

In some instances, especially if the landlord and tenants have known each other for long periods of time, a gentleman’s agreement (a verbal contract) would normally suffice. However, sometimes, even the best of friends have falling outs due to money matters so, to prevent this from happening; and to clearly spell out the duties and responsibilities of each; it is still best that a formal contract be written and that these be signed by all the parties involved.

Formal contracts for properties that are rented out as private dwellings are called residential lease agreements. Not only do these specify how much the unit will be rented out, all the other terms and conditions: from the rules and regulations that shall govern the new tenant, to the responsibilities that shall be borne by the landlord, and the appropriate “penalty clauses” are to be specified in writing on this document.

Generally, there are two kinds of lease agreements, and these are based on the duration of one’s stay in the residential unit. For short-term and/or indefinite leases, the contract both parties normally use is called a month-to-month rental agreement. Long term leases, or those wherein the tenant will stay in a property for years at a time, are covered by a more comprehensive contract called a Lease Agreement.

These two contracts, the Lease Agreement and the Month-to-Month Rental Agreement, are both considered legal documents and will stand in any court of law. Thus said, it is very important that the contents of these documents are well written and easily understood, most especially by the parties involved.


In previous years, residential lease agreements could only be prepared by real estate agents or lawyers. Not only was this process time consuming, it was also an additional cost that usually had to be factored into the rental rates. Luckily, tenants and landlords no longer have to go through this tedious process as they are now able to prepare residential lease agreements by themselves by downloading an editable version from one of many real estate related websites found on the internet.
Many are apprehensive about using downloadable forms because they fear that the content and format may not necessarily conform to the standards set by local or state government offices. However, the developers of such sites have invested much time and energy to ensure that these documents, although considered somewhat generic, meet the requirements of any official business or government entity. Because these forms can be opened using any standard word processing program, the contents can easily be modified to suit the specific needs of the users.

Negotiating With the Buyer When It's For Sale By Owner

One thing to remember when you begin to negotiate with a buyer is that it’s business and not personal. Sure, there are personal aspects of the sale of the home for both buyer and seller, but keep in mind they’re separate from the deal itself. Your objective is to sell your home at a fair price. Do your best to keep feelings and emotions to the side, even if the buyer is not as good at doing so.

A quick word on Fair Housing: As a seller, you must know that when selling your home, it’s illegal to show “any preference, limitation or discrimination based on race, color, religion, sex, handicap, family status or national origin or an intention to make any such preference, limitation, or discrimination.”

The Starting Point

When the time comes to negotiate, have the buyer make an offer. This is the starting point. They know how much you’re asking for your home; it’s up to them, now, to tell you what they want to pay. A buyer can make a verbal offer, but it's best to put it into writing as soon as possible. Use a standard Contract to Purchase form, which can be found easily on the Interent. In addition to the purchase price, there are provisions on the form for items such as fixtures that will remain in the home, financing contingencies, closing expenses and more. All of these are negotiable.*

Here's an important note: Part of negotiating is never tipping your hand by telling he buyer what your lowest acceptable price is. This seems obvious, but it’s surprising how many sellers let it slip. Savvy buyers will start there and try to work the price down even further.

Considering an Offer

When you receive an offer on your home, your options are to accept it, reject it, or make a counteroffer in which you negotiate the price or make some other concession, such as offering to pay the buyer’s closing costs or pay for the cost of a repair to the home. When an offer comes in, study it carefully. You should consider any reasonable offer made on your home. An offer that at first appears ridiculously low may bounce up to something close to acceptable after you make your counteroffer. Buyers often test the seller to see how much they’ll budge. With your counteroffer, you’ll get a sense of how much the buyer will budge.

When considering an offer, calculate your bottom line. The price a buyer offers may appear acceptable, but they may want you to pay their closing costs, which could cost you thousands more. Carefully go through the offer and add up everything.

Closing Date

Another consideration is time. Even if you’re not in a hurry to sell your house, a closing date several months away can be risky because it in effect takes your house off the market. If the buyer backs out for any reason, you’ve lost valuable time.

Earnest Money

An offer will come with an earnest money amount. This is the amount of money the buyer will give up front as good faith money once the offer is accepted. This money will go to your attorney and will be held in an escrow account until the closing. The amount of the earnest money will be applied to the purchase price of the home. The larger the earnest money check, the more serious the buyer. A buyer stands to lose this money if they back out of the deal for any reason not specified in the contract.

Look at the earnest money amount in the offer. If it appears low – for instance if you feel it wouldn’t hurt the buyer too much to lose it if the deal fell through – ask for more. Instances in which you would want an even larger amount of earnest money include a contract with a far out closing date or a contract that requires you to make modifications or repairs to the home that you would otherwise not make.

Pre-qualified Buyers

Before accepting an offer, make sure the buyer is pre-qualified and can afford to purchase your home. You don’t want to tie your house up for any period of time only to find out that the buyer can’t afford it. If the buyer hasn’t been pre-qualified, send them to your banker before accepting the offer.

Another option is to qualify the buyer yourself, though this does not give you the security of a lender's certified pre-qualification.

Accepting an Offer

Don’t accept an agreement until your attorney has reviewed it first. He’ll identify any shortcomings that otherwise could cost you time, money and possibly even litigation. In addition, he’ll provide all of the other necessary paperwork to complete the sale of your home.

Once your attorney has looked over your agreement, both you and the buyer will sign it. Congratulations. You've successfully negoatiated the sale of your property.

*Any form used to negotiate the price and other contingencies of the sale should be used for informational purposes only between you and the buyer and should not be signed by you or the buyer until your attorney has had a chance to review them. This is an added safety measure that could save you time and money later on.

Here are examples of a Contract to Purchase agreement and other real estate forms. If you decide to prequalify a buyer yourself, get your attorney to advise you on how to do so.
Jan McBee is a senior writer and research adviser for DwellWell.com.

FSBO vs. Realtor

Some homeowners are tempted to sell their home on their own instead of using a professional real estate agent. A portion of those owners are successful. But, many are not successful. The potential for savings is much more elusive than many anticipate. For example, when a buyer considers a home being sold directly by an owner they are going to discount any offer they make in recognition that there is no commission. Put yourself in the buyer’s shoes. Wouldn’t you? So, the dollar savings the seller may have initially anticipated is considerably less than expected.

If you do decide to sell your home on your own, be very careful in the selection of your asking price. FSBOs tend to attract investors and bargain hunters seeking a steal. Besides looking for a commission discount they're also looking for FSBOs that have priced their home below market value. I have personally witnessed FSBOs sell their homes for tens-of-thousand of dollars below market value and proudly tell me how they "successfully" sold their home without the aid of a professional real estate agent. As you can imagine, intoxicated by their apparent success, they dismissed anything I had to say – tragic.

Another factor that bites into potential savings is the cost of marketing a home. A seller may get lucky with just a “for sale” sign on their lawn. But, chances are they're going to need to spend some money to get marketing exposure, and this gets into the BIG hidden costs of marketing your home on your own. You’re much more likely to get multiple offers on a home when it’s professionally marketed. An Internet-savvy professional will market a home on a variety of consumer web sites (e.g. Realtor.com, Yahoo Real Estate). This kind of exposure casts a much wider net and greatly increases the odds of getting multiple offers. Multiple offers translate to a higher price, often above list price.

Studies by the National Association of Realtors have consistently demonstrated that FSBOs average a lower sales price than professionals. For example, the 2005 Profile of Home Buyers and Sellers indicated that FSBO sales sold for more than thirteen percent less than homes sold by a real estate agent. It’s pretty much the same story every year this topic is studied. How is this possible? One reason, as I previously indicated, is the power of professional marketing. Would you rather have one buyer, or two or three buyers making offers on your home? Furthermore, it’s not enough to find a buyer. After an offer is received and accepted there are many things that can go wrong and kill a deal. You need a good real estate agent to shepherd the sale all the way to closing.

Finally, in addition to diminished monetary savings, I haven’t even begun to discuss issues like the logistics of showing a home seven days a week, differentiating real buyers from lookers, security and safety concerns and the higher risk of liability when a homeowner sells on their own. Sometimes homeowners flying solo have an overly simplistic view of what’s required to successfully sell a home. There is a reason why real estate agents are required to be licensed by the state.

Is it impossible to sell your home on your own? No, it’s not impossible. However, the odds are definitely stacked against you. But, there’s a bigger issue here. When planning to sell your home the best approach is the one that yields the highest net price within your time frame. An overemphasis on avoiding or lowering the commission without understanding what methods get the most amount of money in a seller's pocket is an all too common mistake. Don’t make this mistake, before deciding to sell on your own do some research. You may conclude that like so many other services we utilize on a daily basis, hiring a professional may be your best and most profitable option.

Ed Chaparro is a licensed New Jersey real estate agent with Prudential New Jersey Properties servicing Middlesex, Union and Somerset Counties.

Ed Chaparro has over twenty years of experience working with technology and putting it to use to help people and businesses. Ed Chaparro mixes traditional real estate marketing (MLS, signs, direct mail) with a very aggressive Internet marketing plan that maximizes the number of buyers reached.

For buyers, Ed Chaparro provides methods and communications that enable them to view their options in manner that is efficient, informative and free of any hard-sell tactics. This approach has garnered Ed Chaparro a great deal of buyer loyalty.

For more details and information please visit http://www.EdChaparro.com

Homes for Sale by Owner

Homes sold by owners are advantageous for both the seller and buyer. If the house that is put up for sale sells for $200,000, for example, and the common commission rate ranges up to six percent of the selling price, then both the buyer and seller can save $12,000 – money that would have been used for an agent’s commission. And if the property owner dedicates a lot of time in finding the prospective buyer of his home instead of spending weeks or months finding an agent, then he will most likely dispose of his property in a shorter span of time.

There are various reasons why a person may sell his home. The homeowner may want to gain financing for a new home, obtain an ample amount to finance the mortgage of the property that is up for sale, or just want to move to another place.

Homeowners who adopt the “For Sale by Owner” method of selling assume the role that is conventionally played by the bank or the mortgage firm. Such a process, when adhered to, is advantageous both to the seller and the buyer. Naturally, homeowners contact real estate agents who will handle the transaction for them. But when the homeowners administer the selling by themselves, they are able to save on commission costs and also provide a good package for buyers needing to purchase new homes but facing difficulties getting bank loans.

For innumerable reasons, many individuals find it hard to obtain bank loans due to the strict requirements imposed by these money-making lenders. They may have the funds ready in their pockets and have stable jobs to sustain the monthly payments, but they just find it hard to settle for a bank loan. With the sale of a home by the owner, the process gets much easier.

It is, therefore, not surprising why homes for sale by owners are highly coveted. If you are a seller, you save yourself a great deal of money because you never have to pay commission costs. If you are a buyer, you can buy a house and lot without the terrible burdens of tremendous bank interests.


For Sale By Owner provides detailed information on For Sale By Owner, Homes for Sale by Owner, Land for Sale by Owner, Used Cars For Sale By Owner and more. For Sale By Owner is affiliated with Home Selling Prices.

The Easy Way to Sell a Furnished For Sale By Owner Home Fast!

A realtor once told me that when you are trying to sell a house, whether you are thinking about doing it as a "For Sale By Owner (FSBO)" or using a Realtor, it is best show it to others completely empty. But what if that isn't always possible? Buying a house is one of the biggest purchases a person will make during their lifetime, and it isn't usually possible to have two of them at the same time. Fortunately, by following a few simple rules, you can show your FSBO house while you are still living in it.

The basic rule is to have as much white space as possible in every room. When you are showing the house, turn on the lights so everything looks bright and cheery. You may need to "edit" your furnishings in order to magnify the space in each room as follows:

Kitchen: The general rule for the kitchen is to have clean countertops, with only three items on the counters. This might be a coffee pot, the toaster, microwave, or a nice food processor. Whatever it is, make sure it is clean and shinny and fits in well with other kitchen décor.

Bathroom - make sure it's spotless, with a nice set of matching towels; a small soap dish with colored soaps adds a pleasant touch. Do not have toothbrushes, used towels or used soap anywhere to be seen. If you have a linen closet, make sure every item is folded and stacked nicely.

The Living/Dining Room of the for sale by owner house should be free of clutter, even those prized collectibles that you want to show all your friends. The future owners' tastes might not be the same as yours, and anything they see that they don't like could ruin your FSBO sale. Furniture should be kept at a minimum, and arranged in a way that makes the space look the largest. If you don't have talent for deciding how best to arrange your furniture, hire a professional to "stage" your house for the best viewing. In the long run, it will be well worth it.

Make sure all coffee tables are dust free, and display a nice arrangement of flowers or coffee table books. Again, shelves should display only a few generic items. If you are selling close to the Holidays, make sure your holiday decorations are put away by the first week in January.

If you have a lot of paintings or art on the walls, remove some until there is only one nice painting per wall, and please, if you remove the art and there is still an outline of it on the wall (because the paint has faded) repaint the walls so they are clean and free of any telltale art lines.

Bedrooms - White space is also necessary in the bedrooms. In the closets, remove half of your clothes and try to get everything off of the floor. Get a nice shoe rack or something to hang purses and belts. Make sure your bedspread is stylish and new looking. It should to look like a fancy hotel room, where a person would want to stay forever.

Here are two more things to keep in mind: Each room should have a focal point that attracts the visitor's attention. If you have a nice view, make sure the curtains are open before you show the house. If there is a fireplace, put a nice piece of art on the mantle to attract attention.

And, last but not least, remove anything that you definitely want to keep. If you have bar-stools or chandeliers that you would not consider selling with the house, take them out before you show the house. Otherwise, you might find yourself giving them away, or worse yet, having to buy them back from the new owner.

I hope you now have a good idea of how you can show your FSBO house and still live in it. You may need to move some things into a basement or closet, or rent a storage space for items for a short while, but if you follow these simple rules, you should not have to worry about it for long.

Evelyn Grazini delivers For Sale By Owner (FSBO) advice to help you sell your home fast! - Find free articles and a free report on "What to Repair and What to Remodel to Obtain TOP DOLLAR when you sell! http://www.fsbotactics.com/asale.htm

Secrets to Pricing Your FSBO for Quick Sale and High Profits

When you choose to go the For Sale by Owner (FSBO) route, you decide to take on a lot of extra work. Hopefully the extra profit you'll pocket will be worth it. However, now not only will you need to be ready show your house at a moments notice, but you will also be in charge Marketing, Market Research, and Advertising.

Out of these, Market Research is the most important. The price you set on your house is the main determining factor on how quickly you will sell your FSBO. But how do you come up with the right price? Here are a few things you might want to consider.

Appraisals - Most people think that appraisals are the only way to determine the price of a house. However, appraisals cost around $300 - $500, and may still not give you the information you need. The best way to find out what your house is worth is by asking a Real Estate Agent (yes, you can ask an Agent, even if you are going the For Sale By Owner route).

Agents commonly provide what is called a CMA (Comparative Marketing Analysis). They use this as a sales proposal to solicit your listing. It is best to get a CMA from three different agents. Make sure you select agents you would want to work with in the future, in case you decide not to go the FSBO route.

The CMA should include information on: 1) Comps - What homes similar to yours have recently sold for; 2) Suggested listing price - If you talk to three agents, you may get three different prices. Usually, one will be high, one lower, and one in the mid-range. You should be able to get a good feel for the average with the three different opinions. 3) Marketing Strategy - because the Agent wants your listing, he or she should be able to tell you what types of marketing will be done to help the sale (example: Web site or Newspaper advertising, open houses for brokers and buyers, etc.).

You might have enough information to make your decision after speaking to these Agents, but you should also do a little research of your own by looking around your neighborhood and checking out prices of homes similar to yours.

After all of that, you may still be unsure if the price you have set is the best one for a quick sale, but here are a few things to calm your mind.

Your for sale by owner price may be too high if you do not immediately get agents asking to set up showings; you have not had one or two serious buyers in the first couple of weeks (serious buyers are those who have come back for a second look); or you have not received a valid offer within four to six weeks. In this case, you may want to consider lowering the price by 2 to 5 percent for two to three weeks and see what happens.

Don't worry too much about under-pricing the FSBO. If your price is right, you will get multiple offers, which, in the end, will raise the selling price.

Good Luck!
Evelyn Grazini delivers For Sale By Owner (FSBO) advice to help you sell your home fast! - Find free articles and a free report on "What to Repair and What to Remodel to Obtain TOP DOLLAR when you sell! http://www.fsbotactics.com/asale.htm

For Sale by Owner Excerpts: Selling Your Home

PREPARING YOUR HOME

Preparing your home for sale is essential for getting it sold and getting top dollar. Owners who take a little time to prepare their home will net thousands more dollars than those who just put a sign in the yard. Which upgrades add value to your home is a topic of much debate. However, cleaning and painting are small changes you can make that will definitely bring you the most in return. Do not put your home on the market before it is ready. You only get one chance to make a good first impression.

Paint
You can’t predict what your buyer’s taste in color schemes will be, so you want to market to the average buyer. Paint your home in bright neutral colors so that they will be able to visualize themselves living in your home.

Keep it clean
Make the bed, put the dishes away, and hide the kids’ toys. You should also consider hiring cleaning professionals to come through and give your place a deep cleaning.

Odors
Be careful of strong cooking odors like onions and garlic. Pet odors are also a big turn- off for buyers. Put litter boxes in a place that will contain the odor. Do what you need to do to remove pet odor from carpets and furniture. Fabric freshener like Febreze can help make your space smell cleaner.

Light makes your home look larger
Clean the windows and keep all window blinds and shades opened. When possible, turn on as many lights as possible, even during the daytime.

Remove personal effects
Your personal items are a distraction to buyers. Put away your personal pictures. Remove any distracting art from the walls. You want buyers to be able to visualize themselves living in your home.

Landscaping
Mow the lawn; generously water and fertilize it. Clear the weeds that grow up along the house. Prune overgrown trees and shrubs. Remove any unnecessary equipment from the lawn. Put bicycles and kids’ toys in the garage. Get rid of run down playground equipment. If the exterior of your home is uninviting or rundown this is the first impression that the buyers will have, and it will be a hard one to recover from. To get an objective view of your home try standing on the other side of the street or a few homes down and comparing the exterior of your home to your neighbors’ homes.

PRICING
Pricing your home is the one of the most important parts of your marketing plan. Too high a price and your home won’t sell, too low a price and you lose money. In a hot market you have much more room to experiment. If your market is slow or slowing, pricing becomes much more crucial, and you’ll want to get it right the first time.

Comparables
When Realtors price your home, they use a method called a CMA, or Comparative Market Analysis. They compare your home to homes that have sold in your area within the last 30-90 days, and to homes like yours that are currently on the market. The formula is simple but the real value comes from knowing which comparables to pick. Two CMA’s done on the same home can vary greatly if the same comparables are not used. This can be difficult to perform objectively. If you think it could be difficult for you to look at your home objectively, it might be best to get a third party opinion. Below are a few things you will want to consider when comparing your home to the competition:

Square Footage: This is a big one. Buyers often use square footage in comparisons, and on occasion use a dollars-per-sq.-ft. analysis when analyzing home prices.

Age: If your home was built in 1920 and one of your closest comparables was built in 1995, you will need to make an adjustment for this. As homes age they change categories. They can be new, outdated, old, or even historical. Again when picking comparables it is very important to compare apples to apples, so if possible keep the age of comparable homes within 5 years of yours.

Lot size: Try to keep comparables within .05 acres of your lot size. Also consider the position of the home on the lot.

Baths: The location of a bathroom can be very important. Having a bathroom off the master bedroom adds value. Also, keep in mind that there is a big difference between a full bathroom and a half bath.

Here are a few things to avoid when determining the asking price of your home.

Adding the cost of upgrades and improvements to your asking price: As discussed in another section, not all improvements will recover their costs at closing. Even if your home is substantially nicer than most homes in your neighborhood, you’ll need to make sure it is still affordable to the buyers who are looking to buy in your neighborhood.

Pricing your home based on what you want or need to get out of it: You might know the exact amount of money you need to achieve from the transaction, after the closing process, in order to put a down payment on your dream home. However, the buyers looking to purchase in your area are not concerned with your next home purchase. Be careful not to miss opportunities by pricing your home above market value.

NEGOTIATING

Preparation
There is no substitute for knowledge. Exercise diligence in your research and you'll have an accurate assessment of the subject property's value. This is the most important piece of information in negotiating a deal. All the arguments in the world won't change the value of a property. If you've independently determined what that price is, then you're not going to sell too low or pay too much. At this point, negotiating becomes an attempt to learn the other party's level of knowledge.

Don’t feel pressured to answer right away
While you might be told the offer is only good until a certain time and date, don’t feel like you have to accept an offer right away or on the spot. Tell them you would like to discuss it with your spouse, or you would like to sleep on it, or perhaps run it by a friend or lawyer. You’ll find that the decision-making process will become much easier once you’ve had time to “sleep on it” and allow yourself to go over all the information.

Be detached
The quickest way to lose control of a negotiation is to become too emotionally involved. Obviously, buying and selling something as expensive as a house is an emotionally loaded experience, but cultivating a detached demeanor will help convince your opponent that you are a competent negotiator who is comfortable with his/her position. Being too emotional will always be interpreted as desperation and that gives the upper hand to the other side.

Ask for more than you will accept
Even if both sides of the bargaining table have perfect knowledge of the property, they’ll still need to feel as if they have negotiated a good deal. It's hard to feel you've accomplished something by negotiating if the starting and ending points are the same. Each party should feel that they've gained substantial benefit from the negotiation.

Get it in writing
Get the first offer in writing so you can see all the terms. A polite, "we will consider all written offers" can greatly enhance a nervous negotiator's ability to control the process. It will give you time to evaluate the offer fairly and greatly reduce the effectiveness of pressure tactics. After the first offer you can counter verbally. Make sure that there is an attorney review period as part of the contract. During the attorney review you will want your attorney to be able to evaluate the contract and make any necessary changes or void the contract if necessary. Putting offers and counter offers through a fax machine a few times will make them unreadable. Once you verbally agree to the terms then get signatures on a fresh contract and send it off to your attorney for the attorney review period (usually around 5 business days).

We hope you’ve enjoyed these excerpts! To receive the complete, complementary For Sale by Owner guide to selling your home by Berg Properties, please visit: http://www.bergproperties.com/fsbo_guide.php
Article Written By Scott Berg
Scott Berg has extensive experience in sales and customer service. Prior to founding Berg Properties, Scott Berg was a consultant for the Boru Group and helped many small businesses in a myriad of industries improve sales and customer service by automating their business processes.
Berg Properties was recognized in the Chicago Tribune by the Chicago Association of Realtors as a Top Tier Producer in 2004 with the most residential units and the highest volume sold as a new comer.

For Sale By Owners (FSBO) - Home Buying & Selling Tips

Traditionally, home buyers and sellers have hired the services of a real estate agent or a brokerage firm, a trend that continues to be popular. Yet the concept of FSBO (For Sale By Owner), where the sales transaction is directly between the home owner and a prospective buyer, is becoming increasingly popular.

The growing popularity of FSBO can be attributed to the growth of the Internet and the opportunities that it offers both home owners as well as home sellers to find one another more easily.

Of course, selling through a brokerage firm or a realtor makes sense if the idea is to make a quick deal. On the flip side, that comes with the price of a heavy commission. Obviously, one has to pay for the expertise of the realtor. Unfortunately, another downside is the susceptibility to malpractices during the process, particularly, behind-the-back negotiations.

On the other hand, if immediacy of a sale or purchase of a home is not the most important criteria and the objective is to reduce costs and save money, then the best option is to go for FSBO.

Tips for FSBO Sellers
Selling a house yourself is not a joke by any means. However, there are some very basic factors that an owner can take care of, some of which are listed below.

Pricing
As a seller, it is important that you price your house correctly ie. the price should be neither too high nor to low. Research and survey the real estate prices in the market. A lot of the information is publicly available; and don’t forget the time tested method of fishing for information by asking around. A strategy that home sellers often adopt is to set much higher prices initially and then lower it during negotiations. It might come off occasionally but more often than not, it is bound to put off a prospective home buyer who might think the property is overvalued.

FSBO Services & MLS websites
FSBO has become such a mainstream method for home owners that there is a full-fledged industry to support it. The website SellItYourselfUSA.com (http://www.sellityourselfUSA.com ) is a case in point. The objective of these FSBO services is to help these owners and buyers complete the process in a smooth fashion and cost-effectively. Make the most of the information provided by the FSBO websites and service providers.

Marketing the home
Undoubtedly, marketing continues to be one of the biggest challenges for a seller, but it has been made ever so simpler by the Internet. The sale-purchase scenario of property has undergone a drastic change. Advertising or listing on the niche FSBO and MLS websites gives enormous exposure to the property that an owner is trying to sell. In fact, the choice of how much exposure a person wants is really dependent on the seller with the various targeting options that are available these days.

FSBO tips for buyers
Some simple points that home buyers are well advised to consider when they plan to buy directly from the property owner:

When to buy
Typically, the best time to buy homes is during Fall and Winter when the best bargain property deals seem to be available. This is the time when FSBO sellers generally lower their prices to get potential buyers. Conversely, home prices tend to get higher during the warm weather seasons. As a home buyer it will be good to take these into consideration.

Mortgage pre-approval
In order to avoid problems later, it is important that you have a mortgage pre-approval before making an offer. This is because the seller can be entertaining multiple bids and in such a scenario, you might need to make an offer quickly. In addition, you should arrange the amount required for the down payment.

Insurance-claims report
While buying property, secure the seller’s permission to buy the Comprehensive Loss Undertaking Exchange or C.L.U.E. as it is commonly known. The report has the insurance-claims information and related data and is available online from a company called Choice Trust.

Jonathan Gropper is President of Vortech Web & Business Solutions, a company that designed and markets SellitYourselfUsa.com (http://www.sellityourselfusa.com), a niche website for FSBO sellers to provide maximum exposure to the property they are trying to sell. He is also the COO of OnlyOpenHouses.com (http://www.onlyopenhouses.com ), a comprehensive source for listing and finding open houses.

What Everybody Ought to Know-Five Smart Ways to Advertise Your for Sale By Owner (FSBO) Home

Most people over-stress when trying to determine how to advertise a "for sale by owner" home. But it's really not that hard if you concentrate on these five methods.

According to the National Association of Realtors, the primary sources prospective buyers use to find houses are as follows:

1) Agent: 86%;
2) Yard sign: 69%;
3) Internet: 65%;
4) Newspaper: 49%;
5) Home book/magazine: 35%;
6) Open house: 48%;
7) Builders: 37%;
8) Television: 22%;
9) Relocation company: 14%

As you can see, numbers 1,7,8, and 9 would not apply to your home for sale by owner, so lets concentration on the others.

Yard Sign - To capture people driving around looking for a house in a particular area, you are going to need a yard sign. Your sign should be approximately 18x24 or 24x30 inches, and easily seen from the road. The sign should NOT be a red and white plastic sign. It should look professional. You can find professionally made signs on FSBO sites, or you can make your own by going to the hardware store and getting a larger size steel frame, and using vinyl lettering or numbering.

Internet/Newspapers: If you have no idea where to start creating your newspaper ad, the easiest way is to find an ad that you particularly like and cut it out of the current newspaper. Find homes similar to yours, then you can easily mix and match phrases and approaches to create your own successful ad. Make sure you include a picture and a description that will entice the reader to call for more information.

You can save money by advertising only on the major Real Estate Ad days (usually weekends). Most newspapers will put your ad on the Internet for free when you place the ad. There are also Internet sites that will place a special ad for you with extra space for a picture, and full description.

Home book/magazine - Real estate magazines are a great place to advertise because they are placed in high traffic areas and picked up by people interested in buying properties. These ads usually cost the same as a classified ad in a newspaper, so if your funds are low, you may have to choose between the two of them.

Open House - The smartest time to hold an open house is when a Real Estate Agent is holding one in your neighborhood at the same time. Then, you can put up your sign at the end of the street and capture some of that traffic. Be sure to have plenty of signs available, and advertise in local newspapers, real estate magazines, flyers, etc. Also, have plenty of flyers in your information box. The "nosy" neighbors will take a few, but you want to have enough available for those who are doing comparison-shopping when they get home.

MLS - If you're doing everything you can and still not finding people interested in your house, consider working with a low cost Real Estate Broker, a Discount Broker, or a Medium Service Broker, (who may be Internet based). Through these resources, you may be able to place an ad in a Multiple Listing Service. Be sure to include a photo of the house. Text only descriptions just will not do.


Evelyn Grazini delivers For Sale By Owner (FSBO) advice to help you sell your home fast! - Find free articles and a free report on "What to Repair and What to Remodel to Obtain TOP DOLLAR when you sell! http://www.fsbotactics.com/asale.htm

For Sale By Owner and MLS Listings

There is a common misconception among people who decide to sell their home without a real estate agent. The misconception deals with getting their home in MLS listings.

For Sale By Owner and MLS Listings

Making the decision to sell your property without a real estate agent makes sense from a financial perspective. The commission rate charged by a real estate agent is traditionally six percent. This equates to a fee of $18,000 on a $300,000 home, $24,000 on a $400,000 home and a whopping $30,000 on a $500,000 home. Anyway you cut it, that is a lot of your hard earned equity to pay out. In fact, it may have taken you three, five or ten years of monthly mortgage payments and appreciation to build up that amount of equity.

Given the above figures, why do people use real estate agents? In many cases, they do so because they think using a real estate agent is the only way to get into the multiple listing service for their area. The multiple listing service, better known as MLS, is a directory of homes for sale in the area that real estate agents and buyers can access. What most people selling their own property do not understand is that they can be listed in the MLS without retaining a real estate agent.

In many areas, access to the MLS has been opened up to for sale by owner individuals. You can contact discount brokers that will list your home in the service. The brokers typically charge you a flat fee for the listing. The fees can be a bit pricey, but they are always much, much less than paying a realtor commission. If you feel like you need some additional help as well, most discount brokers offer tiers of service where you can pay a bit more to get help with closings, contracts and so on. Again, the ultimate fee is much less than paying a realtor commission.

While inclusion in MLS is probably a wise decision, it is not absolutely necessary. One of the reasons MLS listings are now easy to get has to do with the Internet. Simply put, the web has revolutionized the real estate industry. A recent study found that over seventy percent of buyers now do their initial research on the web. This makes sense given the fact it is lot less time consuming to simply point and click through a large number of homes without having to blow money on gas driving all over town. In simple terms, this means you need an Internet advertisement for your property more than you need a straight MLS advertisement.

If you are trying to decide whether to sell your property without an agent, do not worry about MLS listings.

Raynor James is with the site - FSBO America - FSBO homes for sale by owner.

Sneaky Ways to Determine if It's a Sellers Market For Sale By Owner Homes

According to recent statistics, the number of people who are now offering their home for sale by owner (FSBO) is as high as 25-30 percent. The average Real Estate Broker's commission is around 5.5 percent, but it can get as high as 8 percent in certain areas.

Before you decide to do all of the work yourself and put your house up as a For Sale By Owner, you might want to try a few tactics to determine if it is a buyers or sellers market.

In a Buyers market, real estate sales slow down. This can happen within just a few months and when it does, even if your neighbor's house sold for a huge profit it doesn't mean your home will be able to do the same now. In this case, you might want to reconsider selling as a For Sale By Owner, because it will take you much longer to get a decent price by yourself.

What you're wishing for is a Seller's market, where most people are getting more than the asking price and inventories of houses are low. There are a few easy ways to determine what the market is doing that won't cost you anything but a little time.

Start by just being aware of how long houses in your neighborhood are on the market before they sell. Then find out if the house did indeed sell, or if it was pulled off the market because the owners couldn't get a decent price.

A great way to analyze the number of buyers looking for houses in your area is to drive around your neighborhood, find a few places where the realtor is having an open house, and see how long it will be open. Then, arrive at the house about ten minutes before the "open house" closes on any particular day. Introduce yourself, have a cookie or two, quickly walk through the house and chat with the realtor. You might even be so bold as to ask him or her if they have been very busy today. Then, before you leave, be sure to glance at the sign-in sheet and note the number of visitors that viewed the house. If there are only a few names on the list, you might want to reconsider selling as a FSBO house. If there are a lot of names, you may be in the money!

Another way is to find out how fast other houses have sold. If you did your homework and drove through the neighborhood, you will have a general idea. If you have a friend who is a realtor, try checking the local Multiple Listing Service (MLS) for data about the average number days a home for sale was on the market, and average days to close. Unfortunately, only a realtor can access the MLS data, so this would probably be your last choice for research.

If the average to number of days to close is around 45 days, you can assume it's a hot sellers market. If the average is six months or more, it is a buyers market and you might want to reconsider selling your house as a FSBO, or take it off the market and wait until you have a better chance for a quick sale
Evelyn Grazini delivers For Sale By Owner (FSBO) advice to help you sell your home fast! - Find free articles and a free report on "What to Repair and What to Remodel to Obtain TOP DOLLAR when you sell! http://www.fsbotactics.com/asale.htm